login
login
Image header Agence Europe
Europe Daily Bulletin No. 10012
Contents Publication in full By article 12 / 23
GENERAL NEWS / (eu) eu/competition

04/11/2009 (Agence Europe) - The restructuring plan for Opel, the European subsidiary of US automobile company General Motors, is intended to ensure the long-term viability of the company, said a spokesperson for the competition authorities in Brussels on Wednesday. GM decided in the night of Tuesday 3 November to cancel the plan to sell off its struggling European subsidiary. The € 4.5 billion of aid from Germany, initially offered to potential buyers, is now being provided to GM to help with the restructuring plan. Under a temporary regime set up to help EU member states deal with the economic crisis, such aid does not need to be approved in advance by the Commission, but the Commission retains the right of scrutiny to ensure the aid complies with EU state aid rule. (C.D./transl.fl)

Contents

A LOOK BEHIND THE NEWS
THE DAY IN POLITICS
GENERAL NEWS